The rate of vehicle theft loss (up 7.4 percent) is outpacing the growth rate in dealer sales (up 5.1 percent), and even more so in new vehicle sales (up only 4.7 percent and declining). Bottom line: you are losing money faster than you are earning it. You don’t need an MBA to see this is a problem.
To prevent auto theft, the National Insurance Crime Bureau recommends a four-layered approach:
- “Common sense,” such as locking doors and removing keys from the ignition
- Visible/audible devices such as car alarms
- Vehicle immobilizers such as smart keys and kill switches
- Invest in a tracking system
In regard to that last point, advanced GPS tracking technology has eclipsed the capabilities of legacy RF technology and streamlined average vehicle recovery in as little as 26 minutes.